frudd38

After 2.5 weeks of pending IHG, finally decided to call it in and got a nice agent who noted my numerous accounts with Chase and other banks. He asked why and I responded that I'm in it for the different rewards of each program to utilize its potential. He then simply asked to shift some existing credit to open it up.

I just cancelled this card in April (after 24 months from last bonus). Now 6 personal and 3 biz with Chase and 25+ new overall accounts the last 24 months. You really just need to win the agent roulette from what I'm seeing as they have all the power to make the decision.

RNE

Winner of the coveted RNE's Pick for Post of the Week!

RNE, admiring your chutzpah!

isle-hawg

This thread is about applying for new Chase credit cards (and getting paid a reward upfront) not using Chase credit cards. In this case IF Chase has some type of metric (real or perceived) that determined that folks who have signed up for more than 5 credit cards in past 2 years are more likely to not be profitable to them recouping the payout of a sign-up bonus or cost of 0% interest loan in the case of Slate than they are currently choosing not to take the risk of approving the account from multiple pages of reports in this thread.

I have no proof to backup this is WHY Chase has this new policy. As many have reported they do spend allot on their Chase cards and are making money for the Bank, but my guess as to why they are doing what they are currently to even the "good customers" who spend allot on their cards make them money with high income and credit scores make more sense to me than they see them as credit risks. If the later is the case, why not just let them move credit lines around as they did prior to May of this year???

RNE

Yes, but if one's use of credit cards affects one's application success—as I believe it does—then use/spend is relevant to this thread. I agree with you that credit risk may be nothing more than Chase's ruse.

frudd38

Okay, I said benefits actually, not rewards.. but how would you answer that question?

Either way, this 5 card 24 month speculation is nonsense as I have 5 personal datapoints just this month.

civicmon

None of the cards were within the last 6 months but three in the last 12 months. I had to take a break on card apps until June 2015 due to a lengthy mortgage rate lock with the house still under construction.

Chase would constitute maybe 20% of my income. Something around that. I mention the relative percentage of my CLs vs. income solely since it seems that one of the criteria that Chase is now using is overall CLs vs. income.

And yeah, their algos should catch anything risky and call me if they get suspicious, and I've received some of those calls buying stuff for the house.

anagoree

I did as you suggested and applied for chase sapphire from pre-qual tool link and it was instantly approved.
Thanks for your suggestion.

beltway

You applied for a co-branded card. The consensus is that the 5/24 policy does not apply to co-branded cards. None of what you've said undercuts that at all, let alone proves it to be "nonsense."

frudd38

My fault.

RNE

You are not at fault. Your opinion is welcomed on Flyertalk. And I agree with you.

There is no "consensus" about the 5/24 "rule"—whether applied to Chase's house cards or its co-branded cards. It is theorized from scant sampling of self-reported data and promulgated by unscientific rationalization.

• When someone falling into the 5/24 rule is approved for a co-branded card, the supporters hail that success as exculpatory.
• When someone falling into the 5/24 rule is not approved for a co-branded card, the supporters dismiss that failure as inculpatory by suggesting some other credit weakness was to blame.

Thus no evidence is allowed to disprove the 5/24 "rule."

Brugge

True, as long as when one says "consensus", one means that RNE fully agrees with it.

shutter41

I'm hoping to apply for the Southwest Personal Plus (via phone application referral code) and/or BA 50K Avios cards soon. My current Chase cards are:

• Southwest Personal Premier (opened 8/2013)
• United Personal MileagePlus Explorer (opened 4/2014)
• Southwest Business Premier (opened 5/2015)

Anyone care to hazard a guess about how likely I am to get approved for the Plus and/or the BA card given that history? FICO is 770. This all assumes that the 5/24 rule doesn't apply to co-branded cards, since I've got 8 personal cards (Chase + others) opened in the past 24 months. But, assuming that's correct - are these apps worth a shot, or am I wasting hard pulls with the way Chase seems to be tightening things lately?

beltway

There are flat-earthers, and yet we have consensus that the earth is round. (Well, technically an oblate spheroid, but you get the idea.)

RNE

There was once a consensus that the earth was flat. That falsehood lasted for thousands of years. Let's hope the 5/24 doesn't prove so longevous.

RNE, asking, "Who's really the flat-Earther?"

sethb

Why would Chase pre-pay for the (e.g.) hotel points? I'd think that's purely negotiable, and more likely Chase would have a contract that they'd pay for the points as they're awarded, perhaps with some guarantee about minimum payments over some time period.